This partnership reinforces CPI’s commitment to building the leading national interventional pain management platform
NASHVILLE, TENN. and BLOOMINGTON, IND. (Feb. 16, 2023) – Iron Path Capital, a private equity firm focused on building differentiated businesses in the healthcare and specialty industrials sectors, is pleased to announce that Capitol Pain Institute (CPI) is expanding its quality patient care model through the acquisition of Wellspring Pain Solutions (Wellspring). This partnership is a step forward in CPI’s mission to create a leading national interventional pain management platform. In combination with CPI’s existing clinics and ambulatory surgical centers (ASCs) across Texas, Ohio and Kentucky, the acquisition of Wellspring in Indiana marks a strategic entry into a new state with a highly complementary clinic and ASC footprint.
Led by Jeffrey Beck, M.D., Wellspring serves multiple markets across Indiana including Bloomington, Batesville, Columbus, Greenwood, and Terre Haute. “Finding the right partner and alignment was critical to me,” said Dr. Beck. “I am excited for the combined future of our companies and am confident to have chosen the best partner to support our expansion across the region.”
“We are thrilled to partner with Wellspring Pain Solutions in the central Indiana market,” said CPI founder and president Matt Schocket, M.D. “Dr. Beck and I share the same goal of providing high-quality, compassionate care to patients. This partnership will allow us to expand our platform in the Midwest and ensure that patients in the region will continue to receive the care they have always relied on,” said Dr. Schocket.
The need for chronic pain solutions is enormous as the aging population continues to grow. Chronic pain can be debilitating, but interventional procedures and new technologies can give many patients back their mobility and quality of life.
CPI and Wellspring offer a comprehensive range of services across the advanced interventional pain management continuum including spinal cord and peripheral nerve stimulation, interspinous stabilization and fixation, the intercept procedure to treat spinal degeneration, and posterior or lateral SI joint fusion. CPI also has an industry-leading compliance system to ensure patients are provided appropriate, personalized, and effective care.
“The investment in Wellspring is an extension of the fundamental tenets of our investment in CPI,” said Iron Path Capital co-founder Rob Reistetter. “This partnership reflects a mutual commitment to compliance and advancing healthier alternatives for an in-need population.”
This partnership provides mutual benefits to both Wellspring and CPI, their patients and healthcare providers. The combined overall footprint includes clinics and ASCs where patients can receive high-quality care at a lower cost than a traditional hospital setting. Procedures at an ASC can often provide a savings of over 25 percent to both patients and payors. For Wellspring, partnering with CPI allows them to continue their physician-leadership model while enabling the benefits of the overall CPI platform including improved revenue cycle management capabilities, group purchasing agreements, and overall stability with scale. These resources are particularly beneficial for physician practices such as Wellspring as they grapple with the current inflationary environment.
“As we continue to support CPI’s growth into a sector-leading platform, it’s important to find the right partners,” said Reistetter. “We look forward to continuing to expand the footprint, providing beneficial resources, and working with top talent in the healthcare field to deliver quality care to patients.”
About Capitol Pain Institute
Capitol Pain Institute (CPI) is a leading interventional pain management platform with clinics and ambulatory surgical centers across the United States. CPI offers a customized and multi-disciplinary approach to chronic pain treatment, with particular focus on advanced procedures such as spinal cord stimulator implants. CPI partners with physicians and practices that share a common goal of providing high quality, compassionate care at a reasonable cost. The company is also committed to enhancing the communities in which they serve and investing in the advancement of the field of pain management through innovation and evidence-based medicine. CPI was founded by Dr. Matthew Schocket in Austin, Texas in 2007. For more information, visit CapitolPain.com.
About Iron Path Capital
Iron Path Capital is an operationally focused private equity firm focused on lower-middle-market investments across the healthcare and specialty industrial sectors. With offices in Nashville, TN and Charlottesville, VA, Iron Path Capital supports its partners with capital, operating expertise, business development, and industry relationships to achieve significant scale. Iron Path Capital selects companies with stable cash flows, superior management teams, strong performance trajectories, and multiple vectors for growth, both organic and through consolidation. For more information, visit ironpathcapital.com.
Iron Path Capital Contact:
Rob Reistetter, Managing Partner